Headlines:
Markets:
- CAD leads, JPY lags on the day
- European equities slightly higher; S&P 500 futures up 0.3%
- US 10-year yields up 1 bps to 4.253%
- Gold down 0.3% to $3,384.71
- WTI crude up 0.6% to $64.27
- Bitcoin down 0.3% to $116,864
It was largely a quiet session in European morning trade as markets look to settle down into the weekend, before gearing up towards the US CPI report next week.
Major currencies weren’t up to much with the dollar holding steadier on the day but is keeping on the softer side this week. EUR/USD is down 0.15% to 1.1647 with large option expiries at 1.1650 keeping things sticky. USD/JPY is up 0.45% to 147.76 but holds around the Tuesday and Wednesday highs near 147.80.
Meanwhile, GBP/USD is flat at 1.3440 and the same for AUD/USD at 0.6523 with there being little appetite among currency traders.
In other markets, equities are keeping steadier with European indices posting slight gains to wrap up a good week. Regional stocks are looking to recover back a good chunk of the losses last week. As for US futures, the mood music is also positive with S&P 500 futures seen up 0.3%. Tech shares continue to hold more resilient and that’s keeping things more optimistic as we head into the final stretch of the week.
After all the hustle and bustle from digesting poor US data and tariff developments, the focus now slowly turns towards the US CPI report in the week ahead. That will be the next key driver to give markets something to work with in piecing together the Fed outlook.
But before we get to the weekend, there will be the Canadian labour market report and perhaps watch out for headlines on seeking clarity about gold tariffs. Have a good weekend, everyone.
